OJK Releases Q1 2014 Report

Jun 17 2014

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Financial
Services Authority, June 17th, 2014: During this reporting period, OJK actively maintained the stability of
financial services sector through its policies. It appeared in the economic
indicators that showed positive trend. Economic growth in Indonesia for first
quarter of 2014 (Q1 2014) reached 5.21%. Rupiah exchange rate started to get
strong by 7% until end of Q1 2014, and that was the biggest intensification
among emerging market countries such as Turkey, Brazil, India and South Africa,
which all share similar challenges.In banking sector, the Fed`s gradual cut back
on liquidity stimulus has driven deceleration in the growth of banking capital
resource. However, performance of banking sector was generally quite good
compared to previous quarter. That was indicated by high capital adequacy ratio
(CAR) at 19.8% and low non-performing loan (NPL) at 1.9%. Relatively
sufficient provisioning carried out by banking industry has resulted net NPL in
banking sector to stay stable at around 0.9%.Such
economic and capital market conditions have influenced domestic capital market
performance. Indonesian composite index (IHSG) at Indonesia Stock Exchange
during Q1 2014 increased by 11.56% with a closing at 4,768.28. As index
intensified, stock capitalization rate also increased to Rp 4,717.5 trillion. The positive implication impacted bond
market, which also experienced a hike, particularly government bonds market.
Government bonds yield for five-year period experienced a decrease compared to
previous quarter. Other investment products such as mutual fund also increased,
resuming the trend in previous quarter. Total amount of mutual fund net asset
value (NAV) in this quarter increased by 7.45% to Rp 206.32 trillion.Performance of non-bank financial industry (which
covers insurance, finance companies, other financial services institutions, and
Sharia non-bank financial industry) still recorded positive business growth and
financial performance in general. Total assets of non-bank financial industry
in the end of Q1 2014 increased by around 4.29% compared to previous quarter to
1,391.21 trillion. This increase was
contributed from increase of assets in insurance, pension fund, finance
companies and special financial services institutions.To follow up previous year`s programs
in regulation section, OJK developed a regulation framework which ensures
harmonization and synergy among all three financial services industries.
Similar measure was also implemented in banking, capital market and
Sharia-based non-bank financial industry in order to accommodate industrial dynamics,
to response upcoming challenges, and to consolidate OJK organizational
governance. Within this reporting period, OJK has issued seven regulations
associated with non-bank financial industry, education and consumer protection,
and OJK levy.

In Q1 2014, OJK has implemented a range of measures to
optimize sustainable supervision and regulation over banking industry, capital
market and non-bank financial industry. Among others were the establishment of
integrated supervision working unit, crises simulation, formulating blue print
of information system for Risk-Based Supervision, and preparing infrastructures
to support the implementation of Risk-Based Examination (RBE) guidance for
conventional commercial banks and assessment on level of bank soundness for Sharia
banks or Sharia Risk-Based Bank Rating.

In order to provide satisfactory protection for
consumers and society, OJK has developed Consumer Service System sustainably.
Among the efforts were by carrying out several completions in the Integrated
Financial Customer Care (IFCC) program. Additionally, OJK also continually arranged
socialization events in relation with education and consumer protection for all
levels of society. As for dispute resolution, OJK has developed an alternative
dispute resolution agency in financial services sector.
OJK believes that with hard work, smart work, and
supports from all stakeholdersparticularly Bank Indonesia, government, and
House of Representatives, OJK will be able to reach the goal of realizing
financial services industry as a national economy pillar that has global
competitiveness and able to promote general prosperity.

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